MRG Document Technologies, Dallas, has announced a partnership with ProLender Solutions Inc., a San Diego-based software provider to the mortgage industry, aimed at streamlining the loan closing process.The alliance links ProLender, ProLender's loan origination system, with MRG's Miracle DocPrep platform and fully automates the ordering of loan closing documents, according to MRG. "The interface developed by ProLender is a comprehensive 'push-button' system that compiles loan data and directly links to the MRG server, which yields a faster closing process," MRG said. The companies can be found online at http://www.mrgdocs.com and http://www.prolender.com.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
September 17 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
September 17 -
The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
September 17 -
Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
September 17 -
The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
September 17